Tackling Today's Talent Shortage
This blog post was updated on October 21, 2021.
On September 22nd, ERC recognized and honored Northeast Ohio's 99 best places to work for top talent at our NorthCoast 99 Awards Ceremony and Event.
Being known as a “Great Place to Work for Top Talent” should certainly mean something to leadership today. In the current market, finding and keeping anyone, let alone a top performer, is top of mind for almost every leader I talk to. The statement “I just can’t find anyone to work” is heard regularly. The question, “how do I keep my best people?” is asked of our ERC team daily.
Leaders who make their people a priority and who are actively telling their stories are the ones winning the war for talent. These leaders have invested in policies and programs that are appreciated and valued by their teams and ultimately, prove profitable for their businesses. Through our NorthCoast 99 research, we've learned that successful organizations have been able to attract, develop, and retain talent with such policies. Here are a few facts about the 2021 NorthCoast 99 winners:
- 79% have a documented succession plan in place, which means their top performers know they have a path to advance
- Two-thirds have a formal mentorship program for new employees
- 62% have a sustainability or environmental responsibility policy in place
- 98% have formal development and career advancement discussions with top performers
- 93% have a compensation policy
Becoming an employer of choice doesn’t happen overnight but it can happen. As businesses continue to be challenged by the current labor shortage, I encourage you to have these discussions with your leadership team and share your aspirations with your employees.
Don’t wait until you’ve lost your best people —be proactive and committed. You will find it will be worth the effort. ERC's people data proves that.
Need help getting started? ERC Membership is a great place to start.
- Kelly Keefe, President